I note a few points.
First, China was actually there on the list of top exporters in 1961. Then it disappeared and did not reappear until 35 years later.
Second, at no time did Japan ever exceed Germany as an exporter but not once was there any paranoia in the US about Germans taking over the US economy?
Third, the UK was falling down the ranks of exporters until the pound sterling collapse in 1992 and the devaluation actually helped them recover along with the Maastricht Treaty in 1993 - giving them the access to EU export market without the monetary shackles of the Euro. And Brexiters still think Britain is better off???
Fourth, the gap between Germany and Japan was almost narrowing to zero until 1993, then Germany pulled away resolutely - and today exports twice as much as Japan.
So, Germany will always stand by the Eurozone - nobody has benefitted like they have.
Thanks to Bernard Tan for the above comments and this video which is one of the most illuminating on export growth and contraction on a relative basis I have seen. (Please note the file it’s 36 megabytes so it may take some time to download on slower internet connections).Click HERE to subscribe to Fuller Treacy Money Back to top